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by Ashraf Laidi
Posted: Aug 21, 2008 1:37
Comments: 525
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This thread was started in response to the Analytic:

Speculators' Futures FX Positions

The weekly figures on traders' futures commitments obtained from the Chicago Mercantile Exchange's International Monetary Market shed valuable light on the developing flows pursuing one currency versus another.
 
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forextrader
vologda, Russia
Posts: 127
15 years ago
Jun 17, 2009 12:08
Qin
My favourite trade in the last few weeks was to long Aud /USD and Long small position USD/CAD as hedge.
Both positions earn me a good interest every day.

I will not advice you to short Aud/USD because it is very expensive to hold for example you have to pay your broker around 50 USD a week for every short one lot standard AUD/USD which I think is quite a lot.

So if I am in your position I will keep AUD/USD Long and hedge it with long USD/CAD or Short NZD/USD

Kind regard
Qin
Jonkoping, Sweden
Posts: 492
15 years ago
Jun 17, 2009 11:51
Hey, Forextrader
Base on your view, I think you should short AUD/USD, and keep it by the end of this year.

I don't think that you will make money on this.
forextrader
vologda, Russia
Posts: 127
15 years ago
Jun 17, 2009 11:40
Steven
If you look at the monthly Aud/USD chart you will notice that eighties level always been an area of resistance -since 1988 . I am bearish AUD, at the moment and I think it will retreat to 0.75-0.74 in the next couple of weeks.
I predict the Aud to end the year around 0.78 level.
Steven Blyth
London, UK
Posts: 148
15 years ago
Jun 17, 2009 10:13
ForexTrader. Thanks. Am watching from the sides currently. Whats your 6 month target for AUDUSD?
forextrader
vologda, Russia
Posts: 127
15 years ago
Jun 17, 2009 10:05
Hello Steven
Aud/USD is overbough at the moment so if there will be any breakout the it will be two the down side.
So wait if better entry around the 75 area,.
But if you think there is more leg to the upside then make sure you have stop loss below 0.7825
This is my opinion
good luck
Steven Blyth
London, UK
Posts: 148
15 years ago
Jun 17, 2009 7:38
Hedge. Rectangle not triangle. That could be one of the supports. You could trade that or decide to wait for a break out to occur beyond the resistance which proves the bull support. That would signify the beginning of a next major move.
hedge
Singapore
Posts: 9
15 years ago
Jun 16, 2009 23:45
Steven, is the AUSSIE support of the triangle at 07840?

hedge
Steven Blyth
London, UK
Posts: 148
15 years ago
Jun 16, 2009 23:17
Notice the start of a formation of a rectangle on the AUSUSD daily chart. Watch for possible confirmation on a third upward move solidifying the rectangle. Important to allow the market to prove the rectangle is a continuation pattern by letting it actually break out (Up).
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jun 15, 2009 22:19
Not sure about 1.18 in USDCAD yet, but when you short CAD you need to stay nimble. Easier to short audjpy and nzdjpy during falling risk appetite. short CADJPY and long USDCAD also works but once must be careful.

Ashraf
Qin
Jonkoping, Sweden
Posts: 492
15 years ago
Jun 15, 2009 21:12
Hey, Mo
Thank you for your support, really appreciate it.
I will not add more positions now at this monument, even this week. It will be suicidal acting.

Good luck for your positions indeed....even we have the opposite positions.

Best regards
Qin
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